Congratulations! You are taking the first steps toward owning a home!
Nothing beats the feeling of owning your own home. Looking around you, you realize that just a few months ago this was still a dream. But now these walls, doors, and windows all belong to you.
However, the process to get to this point can sometimes be intimidating and confusing. As an experienced Realtor®, I am here to guide you through the entire process from getting pre-qualified by a lender, to selecting the right home, to negotiating the right price and terms, and through a timely closing so that you can step into your future of homeownership. I will help negotiate the best price and terms, arrange your due diligence inspections, and protect your best interests throughout the transaction.
Here are some things to consider before purchasing a home
- Check your credit: Get copies of your credit report. If need be, take the time to clean it up. Remember, the higher your credit score, the better your loan terms. You should check all the three major credit reporting bureaus (Experian, Equinox and TransUnion) as each may have slightly different information.
- Lender Pre-Qualification: If you do not have the cash to purchase a home, you are required to submit a formal Pre-Qualification form with your offer. You must contact a lender and provide sufficient financial information for the lender to determine the maximum loan for which you will qualify. I am happy to recommend lenders who, in my experience, complete the loan process correctly and on time.
- Price Range: The lender Pre-Qualification helps you determine the appropriate price range for your budget. I will do my best to keep you from falling in love with a house you cannot afford.
- Research: The details count when looking for the perfect home. In addition to age, size, and number of bedrooms and bathrooms, I will provide you a checklist of factors you should consider when looking for a home, including: school district, homeowners association requirements, crime rates, environmental concerns, and proximity to transportation, shopping, restaurants, etc. I also will provide you information about the market and issues you may find with resale.
When we find the home that is right for you:
- Submit an Offer: I will help you determine the price and terms that will have the best chance of being accepted. I will prepare your written offer, gather all the required documentation and submit everything to the listing agent.
- Negotiations: If the seller submits a counter offer, I will work with you to determine your bottom line costs, and, if necessary, continue negotiations to get the price and terms that work for both you and the seller.
Once Your Offer is Accepted:
- Loan Application: Immediately after your offer is accepted, you must apply for a mortgage loan. The Consumer Finance Protection Bureau (CFPB) has enacted some very rigid timeframes within which prescribed steps of the loan process must be completed. I will help you keep that process on schedule so you avoid costly and unnecessary delays.
- Inspection Period: The Arizona Residential Purchase Contract specifies timeframes within which you must perform all your due diligence inspections and review and approve required disclosures from the seller. I will help you arrange your property inspections (home, roof, wood-destroying insects, etc. and help you understand and analyze the reports. I will help you read and understand the title documents and your rights and obligations under HOA documents.
- BINSR: Within the timeframe specified in the Contract, you have the opportunity to ask the seller to correct issues you discovered in your inspections. The seller has the right to agree to fix all, some or none of the items, and based on that response, you can decide whether you want to move forward or cancel the transaction. I will be there to help you with all aspects of that process, because those negotiations frequently are much more involved than the initial discussions of price and terms.
- Loan Estimate: I will review with you the Loan Estimate from the lender and confirm the accuracy of the charges it includes.
- Closing Disclosure: Again, I will review with you the final numbers and help you understand the costs.
- Final Walk-through: I will go to the house with you to confirm that the corrections the seller agreed to make have been completed and that the home is in substantially the same condition as on the date of the Contract.
- Close of Escrow: I will be with you when you sign all the documents completing your purchase of the home and finalizing your loan.
After you move into your new home:
- I will NOT Forget You: I will check in with you to see how you are doing. I can suggest vendors to help with any repairs or improvements you may need. I will continue to be a resource for you.
- Keep Checking My Facebook Page: I regularly post articles about the current market, design ideas, fun facts, cost-effective improvements to bring you greater value on resale of your home, changes in the law that may affect you or your home.